Associated Estates Realty Corp (NASDAQ:AEC) Short Interest Down 74.2% in August

Associated Estates Realty Corp (NASDAQ:AEC) was the target of a significant decline in short interest in August. As of August 14th, there was short interest totaling 71,606 shares, a decline of 74.2% from the July 30th total of 277,613 shares. Based on an average trading volume of 45,814 shares, the days-to-cover ratio is presently 1.6 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Associated Estates Realty in a report on Monday, July 6th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Associated Estates Realty

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Themes Management Co LLC purchased a new position in Associated Estates Realty during the 4th quarter valued at about $58,000. XTX Topco Ltd purchased a new stake in shares of Associated Estates Realty in the fourth quarter worth approximately $76,000. Geode Capital Management LLC acquired a new stake in shares of Associated Estates Realty during the fourth quarter worth approximately $93,000. Millennium Management LLC acquired a new stake in shares of Associated Estates Realty during the fourth quarter worth approximately $128,000. Finally, Quadrature Capital Ltd purchased a new position in Associated Estates Realty during the fourth quarter valued at approximately $128,000. 85.42% of the stock is currently owned by hedge funds and other institutional investors.

Associated Estates Realty Trading Up 0.4%

Shares of NASDAQ:AEC traded up $0.02 on Thursday, hitting $4.68. The company’s stock had a trading volume of 46,484 shares, compared to its average volume of 63,981. Associated Estates Realty has a 12 month low of $3.66 and a 12 month high of $12.49. The stock’s 50-day moving average is $4.35 and its two-hundred day moving average is $5.09.

Associated Estates Realty (NASDAQ:AEC) last issued its quarterly earnings results on Friday, May 15th. The real estate investment trust reported ($0.29) earnings per share (EPS) for the quarter.

Associated Estates Realty Company Profile

Associated Estates Realty Corporation is a self-administered and self-managed equity real estate investment trust (REIT). The Company is engaged primarily in the ownership and operation of multifamily apartment units. It specializes in multifamily ownership, operation, acquisition, development, disposition and property management activities. Its operating portfolio consists of approximately 49 apartment communities containing around 12,734 units in eight states that are owned, either directly or indirectly, through its subsidiaries.